Assume your son or daughter is away at college, and as a student usually does, runs a little short of cash. Parents generally find out about such a cash shortage in a telephone call from the student. It would be nice to fix or alleviate that cash shortage through something as easy as a telephone call such as the call that brought the news of the cash shortage. But conventional methods of funds transfer generally are not so simple.
One method a parent may use to help a student's cash flow is to hand cash directly to the student on the student's next visit home. But such hand delivery may not come quickly enough for the student's situation. Another method the parent may use is to mail or otherwise have a check delivered to the student. Again, such mail or other delivery may not be quick enough for the student's situation. Yet another method the parent may use is to wire transfer funds through some service such as Western Union or other money transfer service. Like hand, postal or other delivery, such wire transfer of funds may not be quick enough for the student's situation.
College students are not the only ones who may need an infusion of cash from time to time. Aging parents, incapacitated relatives, and friends caught in a bind may need a little extra cash now and then. Often, the people in need of cash have waited until the last possible moment to make what is to them an embarrassing appeal for the money. Thus, when the request is granted, the money needs to be transferred on an efficient and expedited basis.
To provide a money transfer on an efficient and expedited basis, it would be helpful if the transfer could be accomplished in as secure a manner as possible so as to be certain of the money being transferred to the appropriate person. Further, it would be helpful if the transfer could be accomplished with a minimum amount of time and effort expended on details such as setting up or otherwise establishing an account for the donor or for the recipient. It also would be helpful if the transfer could be made from and to a convenient location so that, respectively, the donor and the recipient, do not have to waste valuable time and effort in travel with respect to the execution of the transaction. In addition, it would be helpful if the transfer could be made at any time so the donor and the recipient do not have to waste time in waiting for selected hours of operation. Further, it would be helpful if the transfer could be accomplished easily through the use of simple, known technology so that neither the donor nor the recipient needs to expend time and effort in learning and in using a new or complicated technology. Finally, it would be helpful if the cost of the transfer is minimal to the donor and the recipient.